(818) 918-5215
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info@teninalaw.com
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(818) 918-5215
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info@teninalaw.com
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Mon - Fri 09:30am-6:00pm

How Do You Pay For a Bankruptcy Attorney On A Budget?

How Do You Pay For a Bankruptcy Attorney On A Budget?

One of the top dilemmas that prevent many people from seeking help with their bankruptcy is struggling to pay for a bankruptcy attorney. If you don’t have the money to pay for legal counsel in your bankruptcy proceedings or hire an attorney to work with you, keep in mind that you can still use the help of an expert attorney. Talking to a bankruptcy attorney can help you to establish a fee structure for your bankruptcy application, and it might not be as expensive as it seems. 

Choosing Bankruptcy Types

For an individual filing, he/she will be able to choose between chapter 13, Chapter 11, and Chapter 7 bankruptcy. Depending on the type of bankruptcy that works best for your financial situation, the fees that you will pay for your bankruptcy application will be charged based on the method of bankruptcy. 

In a chapter 7 bankruptcy, for example, all the fees and attorney are paid prior to the case being filed. In the case of chapter 13 or Chapter 11 bankruptcy, the fees can be redistributed through the repayment plan after the case is filed. You’ll be paying your attorney’s fees as you continue your regular payments under Chapter 13, to your creditors. 

It’s often easier for you to pay attorneys fees when you have a repayment plan but there are many attorneys that are willing to work with people who are in situations where they must file for Chapter 7 or full bankruptcy forgiveness.

If you would still find it difficult for you to pay for representation for your bankruptcy, here are some other options that might be available to you:

Try Not To Deplete Cash Reserves

If you don’t have the extra cash or assets to pay for an attorney in a chapter 7 bankruptcy, try not to deplete cash reserves for your bankruptcy attorney. Depending on your state exemption laws, you could be able to save up to $30,000 and miscellaneous assets if you do not need to claim a homestead exemption. Under Chapter 13, you’ll be responsible for paying out your attorney over time. Your retirement account is also completely exempt from a bankruptcy proceeding. 

It’s usually best to try and file as early as you are beginning to spot trouble. It’s much easier to afford these attorney’s fees when you have flexible options for financing.

Save Up For Representation

If you have a bit of time before you’re planning on filing, it may be possible for you to save money for the bankruptcy fees.  It may be very difficult for you to plan for bankruptcy, but you can consider speaking to your creditors about break-in uncertain debts which could be discharged in bankruptcy. Keeping your payments and saving up this income to pay for an attorney can be a good start.

Speak To a Friend Or Family Member

Speaking to friends and relatives about a loan can be tough but being able to use representation in your bankruptcy will improve the chance that you can file and get acceptance. Many family members may be willing to help you repay your debts and get a fresh start. 

Payment Plans

If you don’t qualify for Chapter 13 bankruptcy, it is possible that a local attorney may help you with a payment plan for their services. Using legal representation that will provide you with a payment plan can make the costs more manageable. 

Contact us today to learn more about the options available to you in the process of filing for your bankruptcy. We can make sure the process of filing for your bankruptcy can be manageable with flexible options for expensing your attorney.

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$995 Bankruptcy Promotion

Tenina Law is offering a special promotion to certain low-income and/or low-debt clients.  If you qualify for the promotion, a chapter 7 bankruptcy will cost you only $995 plus the court filing fee.  This is one of the lowest prices you will be able to find in Los Angeles county.